Italian eyewear manufacturer Marcolin SpA has secured full control of its operations in Mexico. On Monday, the company announced the complete takeover of its joint venture there, which has existed for six years.
In addition to the 51 percent that Marcolin had previously held in the joint venture, the group has now also acquired the remaining 49 percent, according to a statement. The purchase was made as part of the “overarching corporate strategy to strengthen its presence in key markets,” the eyewear manufacturer explained.
As a wholly owned subsidiary of the Group, Marcolin México will “continue to provide close support to local stakeholders while continuing to improve and accelerate response to customer needs in a market with strong growth potential,” the company said.